Hotels and flights make up the bulk of travel expenses so to greatly reduce your trip budget, you need to tackle both. It's a lot harder to save on the flight — you'll have to constantly check to see if the ticket prices are going up or down, and you also have to keep an eye out for deals.

It's generally hard to save on hotels as well, but there's now a great cheaper alternative: Airbnb.com. It's a website where people go to rent out their rooms or houses. The Airbnb options are often more affordable than hotels and are even situated in very central locations. Click through to see a selection of rooms on the site that are going for less than $100 a night!

Keep in mind that there may be additional fees if you bring another person, and you may have to book it for a certain amount of nights to stay there.